Chilton is a hypocrite. He tries to take the high road by saying that the commissioners had no choice - they were obliged to rule within a specified time frame. He fails to mention that the time frame for Trend Exchange actually expired over three weeks before they finally made their decision - a confirmation all the more confusing because the CFTC staff TWICE sent the commissioners an official letter recommending approval of the Trend Exchange.What is obvious is that the CFTC commissioners are not protectors of the public's best interests, but instead are political animals who operate at the behest of their benefactors and any powerful special interest group that they do not wish to run afoul of. 23 Apr 2010
What concerns you most about the upcoming regulation changes?
“Even after the President signs the Wall Street reform bill, financial reform will be far from complete.”
Gary Gensler, chairman, CFTC